On 28 July 2026 FTV Capital announced a USD 30 million investment in COR, a project management, time tracking and profitability platform for agencies and professional services firms. The company closed 2025 with 51% year-over-year revenue growth and is profitable. It matters because it shows the profile that receives growth capital today: Latin American origin, United States headquarters, demonstrated efficiency and a narrow vertical.
The transaction
- Parties. COR as issuer; FTV Capital, a San Francisco-based growth equity manager, as investor. Founders: Santi Bibiloni (CEO), Jose Gettas and Gabriel Marin (CTO).
- Instrument and size. Growth equity of USD 30 million. Valuation, stake acquired and any secondary component not disclosed.
- Governance. Alex Malvone, partner, and Tommy Tighe, principal at FTV, join the board.
- Headquarters. FTV places the headquarters in San Francisco; LatamList identifies COR as an Argentine company founded in 2017. Both descriptions are consistent with a United States holding company and Argentine operations, although the sources do not detail the structure.
- Metrics. 51% revenue growth in 2025; profitable; clients in more than 38 countries, including Globant, Publicis, GUT and Sancho BBDO. Absolute revenue not disclosed.
- Use of proceeds. Agentic AI capabilities, adjacent verticals and international expansion, with Brazil as the market named.
Value drivers
Growth with profits. Growth of 51% with profitability is the combination a growth fund underwrites with the smallest discount. In our reading, profitability lets the capital go to product and expansion rather than to covering losses, which reduces the investor’s risk and improves the price for the founders.
Narrow vertical, measurable pain. Agencies sell hours; COR measures hours and margin per project in real time. Malvone described it as a purpose-built solution for the visibility that modern operations require. A bounded vertical with references such as Publicis and Globant is worth more than a horizontal product without an anchor.
Retention. FTV cites industry-leading customer retention. There is no public figure; in our reading, it is the number that supports the multiple, because in back-office software retention determines customer lifetime value.
The AI moment. Proceeds are directed to agentic capabilities. The investor is paying for an installed base to which automation can be sold, not for an AI promise without clients.
What the market is signalling
For a Mexican B2B SaaS founder, the signal is twofold. First, United States growth capital is active in companies of Latin American origin with a clear vertical and efficiency numbers; the passport matters less than the structure and the metrics. Second, a United States headquarters with operations in the region remains the architecture that makes that capital easier to access.
For buyers and comparables in Mexico, an asset with 51% growth and profits sets the bar for vertical software in professional services, where the country has agencies, law and accounting firms and consultancies still running on spreadsheets.
For lenders, a profitable company with recurring revenue and multinational clients is a venture debt candidate on better terms than a cash-burning one; FTV’s equity does not rule out a later debt facility.
G2’s reading for a mandate
Preparing a growth equity round requires presenting gross and net retention by cohort, margin per client and a milestone-based use of proceeds, because the growth investor underwrites efficiency, not narrative. It also pays to settle the corporate structure beforehand: a United States holding company with operating subsidiaries in the region reduces legal and tax friction at closing.
Sources
- FTV Capital, 28 July 2026: COR secures $30 million investment from FTV Capital
- LatamList, 30 July 2026: COR raises $30M led by FTV Capital